Unisys calls $124.7 million of 12¾% notes, $86.3 million of 14¼% notes

By Melissa Kory

Cleveland, Feb. 28 - Unisys Corp. announced that it will redeem $124.7 million of its 12¾% senior secured notes due 2014 and $86.3 million of its 14¼% senior secured notes due 2015 using proceeds from the closed offering of $258.75 million of 6¼% convertible preferred stock.

The company expects to complete the redemptions on March 30.

The 12¾% notes will be redeemed at 112.75 plus accrued interest to the redemption date. The 14¼% notes will be redeemed at 114.25 plus accrued interest to the redemption date.

As previously announced, the company commenced a cash tender offer on Feb. 22 for up to $220 million of the $246,603,000 of 14¼% notes and $374,962,000 of 12¾% notes.

The tender offer is scheduled to expire at 5 p.m. ET on April 8.

For each $1,000 principal amount, the purchase price is $1,232.50 for the 14¼% notes and $1,222.50 for the 12¾% notes. Both prices include a $40.00 early tender payment for notes tendered by 5 p.m. ET on March 24, the early tender time.

Unisys provides information technology services, software and technology and is based in Blue Bell, Pa.

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